Euro Jubilation

They're dancing in the forex pits of the euro zone now that the Greek debt crisis is resolved.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
EUR/USD US$1.3602
EUR/CAD C$1.3625
EUR/GBP £0.8845

Or at the least, over-caffeinated forex traders in dozens of time zones are frantically clicking their mice to help pin new parabolic SAR bull signals on EUR/whatever currency pair charts.


The euro is showing bull signals against the U.S. dollar (EUR/USD), Canadian dollar (EUR/CAD) and British pounds (EUR/GBP). I'll be tracking all three on the Watchlist, although the signals are all counter-trend.

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I expect whipsaws. One reason is the count-trend nature of the rallies. Another is that I don't trust news euphoria, especially when the news was no surprise. I mean, did any sane person actually expect that the EU would fail to support the euro?

EUR/USD You are here

• Reversal
• US$1.4179,  +4.2%
• US$1.4024, +3.1%
• US$1.3817, +1.6%
• Now US$1.3602
• Reversal
• US$1.3282, -2.4%
• US$1.3266, -2.5%

EUR/CAD You are here

• Reversal
• C$1.4438, +6%
• C$1.4103, +3.5%
• C$1.3834, +1.5%
• Now C$1.3625
• Reversal
• C$1.3340, -2.1%

EUR/GBP You are here

• Reversal
• £0.9149, +3.4%
• £0.9032, +2.1%
• Now £0.8845
• Reversal
• £0.8705, -1.6%

These signals will be followed in the daily Watchlist, which is posted beginning around 2:45 p.m. Eastern. Look for it at www.timbovee.com.

Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic   

About the glance:  The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.

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